en
Back to the list

Cryptocurrency exchanges continue to clarify SegWit2x and BTG position

24 October 2017 21:00, UTC

Coinbase, one of the most popular cryptocurrency exchanges, has clarified its previous statement on SegWit2x hard fork. This platform will further view the chain with most mining difficulty as a “real” Bitcoin. This means that if the SegWit2x initiative results in more difficulty, the new blockchain will be the blockchain of Bitcoin in the eyes of Coinbase, not the original one. It’s almost like someone told that Bitcoin Cash is a real Bitcoin.

This exchange does not plan to support Bitcoin Gold, or BTG, a cryptocurrency that lately emerged on the market due to a separate hard fork (SegWit and SegWit2x updates are not connected with this entirely). The reason stated by the exchange management is simple – this currency needs better security.

Meanwhile, GDAX will allow trading 4 hours after the SegWit2x HF activation, and Bitcoin owners will get the same amount of B2X (the currency that will appear due to the hard fork) on their accounts. Bitcoin Gold, however, will almost certainly not be supported.

Gatecoin will not support SegWit2x and the new chain, and it advises the users to transfer funds on other companies’ wallets if they really want to get B2X in time.

And the decision of Bitfinex regarding SegWit2x is good for those who always didn’t like SegWit2x: the company states that even if the B2X blockchain would have more hashrate, they will continue to support the original blockchain of Bitcoin (often called B1X when compared with B2X). In other words, they will not call B2X Bitcoin.

More about Bitcoin Gold: Trezor wallet service adds support of this currency, BitFlyer, Ciuncheck, Bitpoint, GMO Coin (Japanese exchanges) overall support the coin, but some of them want to wait before the currency gets sensible security upgrades. Waves, meanwhile, wants better security from Bitcoin Gold as well, and states it would support this currency only after such upgrades are implemented. Jaxx and ShapeShift decide otherwise and fully reject support for BTG.